Easy Incorporated uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process 1,350 Percent complete with respect to materials 90% Percent complete with respect to conversion 10% Costs in the beginning inventory: Materials cost $ 1,902 Conversion cost $ 1,494 Units started into production during the month 24,500 Units completed and transferred out 24,600 Costs added to production during the month: Materials cost $ 71,771 Conversion cost $ 543, 398 Work in process, ending: Units in process 1,250 Percent complete with respect to materials 709 Percent complete with respect to conversion 78% Required: Using the FIFO method: a. Deterthine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Complete this question by entering your answers in the tabs below. Reg A and B Reg C and D a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. (Round your answers to 2 decimal places.) Materials Conversion a. Equivalent units of production b. Cost per equivalent unit Easy Incorporated uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. 1,350 984 109 Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Units completed and transferred out Costs added to production during the month: Materials cost Conversion cost Work in process, ending: Units in process Percent complete with respect to materials Percent complete with respect to conversion $ 1,902 $ 1,494 24,500 24,600 $ 71,771 $ 543,398 1,250 709 70% Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Complete this question by entering your answers in the tabs below. Reg A and Reg Cand D c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. (Round "Cost per equivalent unit" to 2 decimal places. Round your final answer to the nearest whole number.) cCost of ending work d. Cost of units transferred out
